🧵 1. Japan's Nikkei 225 and Topix stages a remarkable rebound, surging over 9%, posting largest gain in points since 2008. Market recovers after severe drop. #finance
🧵 1. Japan's Nikkei 225 and Topix stages a remarkable rebound, surging over 9%, posting largest gain in points since 2008. Market recovers after severe drop. #finance
🧵 2. Bank of Japan's rate hike impacts yen value, leading to stock pressure. Global market cautious over U.S. recession fears and yen "carry trade" concerns.
🧵 3. Japanese trading houses soar, with Mitsui and Softbank Group Corp seeing significant gains. Automakers and semiconductor suppliers also rally.
🧵 4. South Korea's Kospi bounces back by 3.3%, Kosdaq climbs 6.02%. Korean tech giant Samsung Electronics and chipmaker SK Hynix gain.
🧵 5. Oil prices rise, with Brent crude up 0.89% and U.S. West Texas Intermediate up 0.84%. Japan's household spending drops, but real wages show growth.
🧵 Read more at: https://www.cnbc.com/2024/08/06/asia-stock-markets-japan-household-spending-rba-rate-decision.html